Reported EPS was $0.99 with adjusted EPS of $1.03, up 14 cents, or 16
percent

Cash from operations of $85.0 million led to free cash flow of $74.8
million, up 21 percent

First Quarter 2017

Orders of $568.8 million were up 8 percent (+2 percent organic, +8
percent acquisitions/divestitures and -2 percent foreign currency
translation) compared with the prior year period.

Sales of $553.6 million were up 10 percent (+5 percent organic, +7
percent acquisitions/divestitures and -2 percent foreign currency
translation) compared with the prior year period.

Gross margin of 45.3 percent was up 90 basis points from the prior year
period, primarily due to productivity, volume leverage and a $2.2
million fair value inventory step-up charge in the prior year period.

Operating income of $115.7 million resulted in an operating margin of
20.9 percent. Adjusted for $4.8 million of restructuring-related
charges, adjusted operating income was $120.5 million with an adjusted
operating margin of 21.8 percent, up 120 basis points from the prior
year period operating margin primarily due to operational efficiency and
the prior year fair value inventory step-up charge. Adjusted operating
income drove adjusted EBITDA of $141.5 million which was 26 percent of
sales and covered interest expense by more than 12 times.

Net income was $75.9 million which resulted in EPS of $0.99. Excluding
restructuring-related charges, adjusted EPS of $1.03 increased 14 cents,
or 16 percent, from the prior year period EPS.

The Company repurchased 82 thousand shares of common stock for $7.6
million.

“Our first quarter results were strong as demand improved significantly,
particularly in North American industrial markets with some improvement
in larger capital projects. Organic revenue growth of 5 percent, our
first organic growth since the fourth quarter of 2014, was driven by 6
percent organic growth in FMT and 5 percent in HST. I am proud of our
team and their ability to execute and deliver for our customers and
shareholders. We generated $15 million of backlog during the quarter and
delivered robust operating margin, EPS and free cash flow that exceeded
our prior expectations.

Last quarter, we were cautious about calling a recovery due to ongoing
market and geopolitical volatility. While these issues continue to be a
concern, we have seen broad-based recovery over the past two quarters
and we now expect better overall performance in 2017.

With the strong start to 2017, combined with improved market conditions,
we are raising our full year 2017 adjusted EPS guidance to $4.00 to
$4.10 with second quarter EPS of $1.04 to $1.06. We are also increasing
our full year 2017 organic revenue growth expectations to 3 to 4 percent
with 2 to 3 percent growth in the second quarter.”

Operating income of $57.8 million resulted in an operating margin of
26.7 percent. Adjusted for $1.6 million of restructuring-related
charges, adjusted operating income was $59.4 million with an adjusted
operating margin of 27.4 percent, a 300 basis point increase compared
to the prior year period operating margin primarily due to higher
volume and productivity initiatives.

EBITDA of $63.4 million resulted in an EBITDA margin of 29.3 percent.
Adjusted for $1.6 million of restructuring-related charges, adjusted
EBITDA of $65.0 million resulted in an adjusted EBITDA margin of 30.0
percent, a 220 basis point increase compared to the prior year period
EBITDA margin.

Operating income of $42.2 million resulted in an operating margin of
21.2 percent. Adjusted for $3.0 million of restructuring-related
charges, adjusted operating income was $45.2 million with an adjusted
operating margin of 22.7 percent, a 90 basis point increase compared
to the prior year period operating margin primarily due to higher
volume and productivity initiatives.

EBITDA of $53.4 million resulted in an EBITDA margin of 26.7 percent.
Adjusted for $3.0 million of restructuring-related charges, adjusted
EBITDA of $56.4 million resulted in an adjusted EBITDA margin of 28.2
percent, a 30 basis point increase compared to the prior year period
EBITDA margin.

Operating income of $32.6 million resulted in an operating margin of
23.7 percent. Adjusted for $0.1 million of restructuring-related
charges, adjusted operating income was $32.7 million with an adjusted
operating margin of 23.8 percent, a 70 basis point decrease compared
to the prior year period operating margin primarily due to the
dilutive impact on margins from prior year acquisitions.

EBITDA of $36.1 million resulted in an EBITDA margin of 26.3 percent.
Adjusted for $0.1 million of restructuring-related charges, adjusted
EBITDA of $36.2 million resulted in an adjusted EBITDA margin of 26.4
percent, a 60 basis point increase compared to the prior year period
EBITDA margin.

For the first quarter of 2017, Fluid & Metering Technologies
contributed 39 percent of sales, 44 percent of operating income and 41
percent of EBITDA; Health & Science Technologies accounted for 36
percent of sales, 32 percent of operating income and 35 percent of
EBITDA; and Fire & Safety/Diversified Products represented 25 percent of
sales, 24 percent of operating income and 24 percent of EBITDA.

2017 Restructuring Actions

During the first quarter of 2017, the Company recorded $4.8 million of
restructuring costs as part of initiatives that support the
implementation of key strategic efforts. These efforts are designed to
facilitate long-term, sustainable growth through cost reduction actions,
primarily a site consolidation at our Material Processing Technologies
platform within our HST segment, along with employee reductions
primarily within FMT and HST.

Non-U.S. GAAP Measures of Financial Performance

The Company supplements certain U.S. GAAP financial performance metrics
with non-U.S. GAAP financial performance metrics in order to provide
investors with better insight and increased transparency while also
allowing for a more comprehensive understanding of the financial
information used by management in its decision making. Reconciliations
of non-U.S. GAAP financial performance metrics to their most comparable
U.S. GAAP financial performance metrics are defined and presented below
and should not be considered a substitute for, nor superior to, the
financial data prepared in accordance with U.S. GAAP. There were no
adjustments to U.S. GAAP financial performance metrics other than the
items noted below.

Organic orders and sales are calculated according to U.S. GAAP
excluding amounts from acquired or divested businesses during the
first twelve months of ownership or divestiture and the impact of
foreign currency translation.

Adjusted operating income is calculated as operating income plus
restructuring expenses.

Adjusted operating margin is calculated as adjusted operating income
divided by net sales.

Adjusted net income is calculated as net income plus restructuring
expenses, net of the statutory tax expense or benefit.

EBITDA is calculated as net income plus interest expense plus
provision for income taxes plus depreciation and amortization. We
reconciled EBITDA to net income on a consolidated basis as we do not
allocate consolidated interest expense or consolidated provision for
income taxes to our segments.

Table 4: Reconciliations of EBITDA to Net Income(dollars
in thousands)

For the Quarter Ended March 31,

2017

2016 (e)

FMT

HST

FSDP

Corporate

IDEX

FMT

HST

FSDP

Corporate

IDEX

Operating income (loss)

$

57,813

$

42,238

$

32,626

$

(17,006

)

$

115,671

$

51,703

$

40,682

$

25,654

$

(14,694

)

$

103,345

- Other (income) expense - net

30

143

36

(517

)

(308

)

135

(390

)

160

139

44

+ Depreciation and amortization

5,644

11,264

3,577

207

20,692

7,256

10,861

1,482

358

19,957

EBITDA

63,427

53,359

36,167

(16,282

)

136,671

58,824

51,933

26,976

(14,475

)

123,258

- Interest expense

11,552

10,489

- Provision for income taxes

28,528

24,682

- Depreciation and amortization

20,692

19,957

Net income

$

75,899

$

68,130

Net sales (eliminations)

$

216,770

$

199,679

$

137,447

$

(344

)

$

553,552

$

211,843

$

186,343

$

104,618

$

(232

)

$

502,572

Operating margin

26.7

%

21.2

%

23.7

%

n/m

20.9

%

24.4

%

21.8

%

24.5

%

n/m

20.6

%

EBITDA margin

29.3

%

26.7

%

26.3

%

n/m

24.7

%

27.8

%

27.9

%

25.8

%

n/m

24.5

%

Table 5: Reconciliations of EBITDA to Adjusted EBITDA(dollars
in thousands)

For the Quarter Ended March 31,

2017

2016 (e)

FMT

HST

FSDP

Corporate

IDEX

FMT

HST

FSDP

Corporate

IDEX

EBITDA

$

63,427

$

53,359

$

36,167

$

(16,282

)

$

136,671

$

58,824

$

51,933

$

26,976

$

(14,475

)

$

123,258

+Restructuring expenses

1,566

3,028

73

130

4,797

-

-

-

-

-

Adjusted EBITDA

$

64,993

$

56,387

$

36,240

$

(16,152

)

$

141,468

$

58,824

$

51,933

$

26,976

$

(14,475

)

$

123,258

Adjusted EBITDA margin

30.0

%

28.2

%

26.4

%

n/m

25.6

%

27.8

%

27.9

%

25.8

%

n/m

24.5

%

Table 6: Reconciliations of Free Cash Flow(in
thousands)

For the Quarter Ended

March 31,

Dec 31,

2017

2016

2016

Cash flow from operating activities

$

84,979

$

70,365

$

115,593

- Capital expenditures

10,162

8,650

9,600

Free cash flow

$

74,817

$

61,715

$

105,993

Conference Call to be Broadcast over the
Internet

IDEX will broadcast its first quarter earnings conference call over the
Internet on Thursday, April 20, 2017 at 9:00 a.m. CT. Chairman and Chief
Executive Officer Andy Silvernail and Senior Vice President and Chief
Financial Officer William Grogan will discuss the Company’s recent
financial performance and respond to questions from the financial
analyst community. IDEX invites interested investors to listen to the
call and view the accompanying slide presentation, which will be carried
live on its website at www.idexcorp.com.
Those who wish to participate should log on several minutes before the
discussion begins. After clicking on the presentation icon, investors
should follow the instructions to ensure their systems are set up to
hear the event and view the presentation slides, or download the correct
applications at no charge. Investors will also be able to hear a replay
of the call by dialing 877.660.6853 (or 201.612.7415 for international
participants) using the ID #13652253.

Forward-Looking Statements

This news release contains “forward-looking” statements within the
meaning of the Private Securities Litigation Reform Act of 1995, as
amended. These statements may relate to, among other things, capital
expenditures, acquisitions, cost reductions, cash flow, revenues,
earnings, market conditions, global economies and operating
improvements, and are indicated by words or phrases such as
“anticipate,” “estimate,” “plans,” “expects,” “projects,” “forecasts,”
“should,” “could,” “will,” “management believes,” “the Company
believes,” “the Company intends,” and similar words or phrases. These
statements are subject to inherent uncertainties and risks that could
cause actual results to differ materially from those anticipated at the
date of this news release. The risks and uncertainties include, but are
not limited to, the following: economic and political consequences
resulting from terrorist attacks and wars; levels of industrial activity
and economic conditions in the U.S. and other countries around the
world; pricing pressures and other competitive factors, and levels of
capital spending in certain industries – all of which could have a
material impact on order rates and IDEX’s results, particularly in light
of the low levels of order backlogs it typically maintains; its ability
to make acquisitions and to integrate and operate acquired businesses on
a profitable basis; the relationship of the U.S. dollar to other
currencies and its impact on pricing and cost competitiveness; political
and economic conditions in foreign countries in which the company
operates; interest rates; capacity utilization and the effect this has
on costs; labor markets; market conditions and material costs; and
developments with respect to contingencies, such as litigation and
environmental matters. Additional factors that could cause actual
results to differ materially from those reflected in the forward-looking
statements include, but are not limited to, the risks discussed in the
“Risk Factors” section included in the Company’s most recent annual
report on Form 10-K filed with the SEC and the other risks discussed in
the Company’s filings with the SEC. The forward-looking statements
included here are only made as of the date of this news release, and
management undertakes no obligation to publicly update them to reflect
subsequent events or circumstances, except as may be required by law.
Investors are cautioned not to rely unduly on forward-looking statements
when evaluating the information presented here.

About IDEX

IDEX Corporation is an applied solutions company specializing in fluid
and metering technologies, health and science technologies, and fire,
safety and other diversified products built to its customers’ exacting
specifications. Its products are sold in niche markets to a wide range
of industries throughout the world. IDEX shares are traded on the New
York Stock Exchange and Chicago Stock Exchange under the symbol “IEX”.

For further information on IDEX Corporation and its business units,
visit the company’s website at www.idexcorp.com.

(Financial reports follow)

IDEX CORPORATION

Condensed Consolidated Statements of Operations

(in thousands except per share amounts)

(unaudited)

Quarter Ended

March 31,

2017

2016 (e)

Net sales

$

553,552

$

502,572

Cost of sales

302,611

279,237

Gross profit

250,941

223,335

Selling, general and administrative expenses

130,473

119,990

Restructuring expenses

4,797

-

Operating income

115,671

103,345

Other (income) expense - net

(308

)

44

Interest expense

11,552

10,489

Income before income taxes

104,427

92,812

Provision for income taxes

28,528

24,682

Net income

$

75,899

$

68,130

Earnings per Common Share (a):

Basic earnings per common share

$

0.99

$

0.90

Diluted earnings per common share

$

0.99

$

0.89

Share Data:

Basic weighted average common shares outstanding

76,115

75,749

Diluted weighted average common shares outstanding

76,894

76,699

Condensed Consolidated Balance Sheets

(in thousands)

(unaudited)

March 31,

December 31,

2017

2016

Assets

Current assets

Cash and cash equivalents

$

216,095

$

235,964

Receivables - net

294,707

272,813

Inventories

257,900

252,859

Other current assets

54,978

61,085

Total current assets

823,680

822,721

Property, plant and equipment - net

250,114

247,816

Goodwill and intangible assets

2,074,148

2,068,096

Other noncurrent assets

15,843

16,311

Total assets

$

3,163,785

$

3,154,944

Liabilities and shareholders' equity

Current liabilities

Trade accounts payable

$

135,462

$

128,933

Accrued expenses

142,670

152,852

Short-term borrowings

323

1,046

Dividends payable

-

26,327

Total current liabilities

278,455

309,158

Long-term borrowings

950,283

1,014,235

Other noncurrent liabilities

293,742

287,657

Total liabilities

1,522,480

1,611,050

Shareholders' equity

1,641,305

1,543,894

Total liabilities and shareholders' equity

$

3,163,785

$

3,154,944

IDEX CORPORATION

Condensed Consolidated Statements of Cash Flows

(in thousands)

(unaudited)

Quarter Ended March 31,

2017

2016

Cash flows from operating activities

Net income

$

75,899

$

68,130

Adjustments to reconcile net income to net cash provided by
operating activities:

Depreciation and amortization

8,903

9,067

Amortization of intangible assets

11,789

10,890

Amortization of debt issuance costs

329

378

Share-based compensation expense

6,159

6,442

Deferred income taxes

1,293

2,950

Non-cash interest expense associated with forward starting swaps

1,677

1,724

Changes in (net of the effect from acquisitions):

Receivables

(20,058

)

(19,267

)

Inventories

(2,761

)

(270

)

Other current assets

6,570

(6,597

)

Trade accounts payable

5,188

6,451

Accrued expenses

(11,565

)

(6,641

)

Other — net

1,556

(2,892

)

Net cash flows provided by operating activities

84,979

70,365

Cash flows from investing activities

Purchases of property, plant and equipment

(10,162

)

(8,650

)

Acquisition of businesses, net of cash acquired

-

(221,556

)

Other — net

546

91

Net cash flows used in investing activities

(9,616

)

(230,115

)

Cash flows from financing activities

Borrowings under revolving facilities

13,000

275,391

Payments under revolving facilities

(80,224

)

(20,994

)

Dividends paid

(26,327

)

(24,662

)

Proceeds from stock option exercises

6,074

8,258

Purchase of common stock

(7,005

)

(46,864

)

Unvested shares surrendered for tax withholding

(5,647

)

(4,717

)

Other

738

-

Net cash flows provided by (used in) financing activities

(99,391

)

186,412

Effect of exchange rate changes on cash and cash equivalents

4,159

3,765

Net increase (decrease)

(19,869

)

30,427

Cash and cash equivalents at beginning of year

235,964

328,018

Cash and cash equivalents at end of period

$

216,095

$

358,445

IDEX CORPORATION

Company and Segment Financial Information - Reported

(dollars in thousands)

(unaudited)

Quarter Ended

March 31, (b)

2017

2016 (e)

Fluid & Metering Technologies

Net sales

$

216,770

$

211,843

Operating income (c)

57,813

51,703

Operating margin

26.7

%

24.4

%

EBITDA

$

63,427

$

58,824

EBITDA margin

29.3

%

27.8

%

Depreciation and amortization

$

5,644

$

7,256

Capital expenditures

5,386

3,290

Health & Science Technologies

Net sales

$

199,679

$

186,343

Operating income (c)

42,238

40,682

Operating margin

21.2

%

21.8

%

EBITDA

$

53,359

$

51,933

EBITDA margin

26.7

%

27.9

%

Depreciation and amortization

$

11,264

$

10,861

Capital expenditures

3,573

4,137

Fire & Safety/Diversified Products

Net sales

$

137,447

$

104,618

Operating income (c)

32,626

25,654

Operating margin

23.7

%

24.5

%

EBITDA

$

36,167

$

26,976

EBITDA margin

26.3

%

25.8

%

Depreciation and amortization

$

3,577

$

1,482

Capital expenditures

1,195

1,107

Corporate Office and Eliminations

Intersegment sales eliminations

$

(344

)

$

(232

)

Operating loss (c)

(17,006

)

(14,694

)

EBITDA

(16,282

)

(14,475

)

Depreciation and amortization

207

358

Capital expenditures

8

116

Company

Net sales

$

553,552

$

502,572

Operating income

115,671

103,345

Operating margin

20.9

%

20.6

%

EBITDA

$

136,671

$

123,258

EBITDA margin

24.7

%

24.5

%

Depreciation and amortization (d)

$

20,692

$

19,957

Capital expenditures

10,162

8,650

(a)

Calculated by applying the two-class method of allocating
earnings to common stock and participating securities as required by
ASC 260, Earnings Per Share.

(b)

Three month data includes the results of SFC Koenig (September
2016) in the Health & Science Technologies segment and Akron Brass
(March 2016) and AWG Fittings (July 2016) in the Fire &
Safety/Diversified segment from the date of acquisition. Three month
data also includes the results of Hydra-Stop (July 2016) and IETG
(October 2016) in the Fluid & Metering Technologies segment and CVI
Japan (September 2016) and CVI Korea (December 2016) in the Health &
Science Technologies segment through the date of disposition.

(c)

Segment operating income excludes unallocated corporate operating
expenses which are included in Corporate Office and Eliminations.

Certain amounts in the prior year presentation have been
reclassified to conform to the current presentation due to the early
adoption of ASU 2017-07, Compensation-Retirement Benefits (Topic
715): Improving the presentation of net periodic pension cost and
net periodic postretirement benefit cost.